The Business Legal Terms You Need to Know | Business.com

June 9, 2023June 8, 2023 ~ knjohn ~ Leave a comment

From comparable worth to torts, we break down the legal lingo all business owners should know.

Marketers, accountants and software developers all have their own jargon – common industry words that others might not readily understand – but the legal field is also well known for its complex lingo.

While there’s no need to go to law school if you’re not pursuing a career in this field, it’s important for business owners to have a basic understanding of the legal terminology they’re likely to encounter. You don’t have to know everything, but you do need to know enough to stay compliant. It’s also essential to know when you should hire an attorney. Consider this your crash course on legal terminology – no Bar exam necessary.

Hiring and Retention Tips for Small Business Owners | Business News Daily

June 2, 2023June 1, 2023 ~ knjohn ~ Leave a comment

Hiring and retention remain top challenges for small business owners. Here’s how employers can improve their recruitment and retention efforts.

Hiring and retention remain top challenges for small businesses due to a lack of workplace engagement.
Businesses have difficulty retaining workers because many of them feel under-compensated and burned out. Additionally, finding employees with the right skills and qualifications is a challenge.
To recruit and retain quality candidates, businesses must provide fair compensation, career development, flexibility and a positive company culture.
This article is for small business owners and recruiters looking to secure and retain talent in the current job market.

How to Sell Your Company for More | Small Business Trends

October 13, 2022October 12, 2022 ~ knjohn ~ Leave a comment

Many small business owners’ dreams are to sell their company for a lot of money. What can you do today to make the likelihood of that happening and hit the payday that you want?

On The Small Business Radio this week, I talked to John Vitti, who is a serial entrepreneur who after successfully launching and exiting three companies (at the multimillion dollar level) within the consumer space, is now the CEO of his newest venture called VersusGame, an entertainment prediction-based gaming app that puts trending topics about celebrities, pop culture and sports a classic “this” versus “that” competition. Since its launch in 2019, VersusGame has grown significantly, with millions in cash prizes to millions of players.

John hopes when people start a business their reason isn’t just to sell it because this may not align with helping their customers. But he adds “if you are successful and create value, someone will buy it.”

Government Grants for Small Businesses | businessnewsdaily.com

November 18, 2020November 17, 2020 ~ knjohn ~ Leave a comment

A small business grant is essentially free money given to a small business owner to help them launch, develop or expand their organization. Grants, unlike a loan, do not have to be paid back, but they often come with restrictions on how the money can be spent.

Just because a grant is free money, doesn’t mean it is easy to get. It takes a lot of time and preparation to apply for a grant, and they are highly competitive, so small businesses should only apply for grants they are eligible for.

Entrepreneurs and small business owners can seek a variety of grants, like private grants from corporations and government grants from federal, state, and local governments. Grants are also available for specific industries and demographics; for example, if you are a minority business owner, there are several minority-owned business grants specifically geared toward you.

9 Tips for Managing and Running Your Business Effectively | Getentrepreneurial.com

September 21, 2020 ~ knjohn ~ Leave a comment

It is not unknown that most of the highly successful people have shared their traits which include tenacity, vision, luck, hard work and being business savvy. It is often heard that people like Bill Gates, Steve Jobs, Mark Cuban, have “Midas touch” as they seem to be able to turn the majority of their business into successes.

No one can deny that these successful entrepreneurs are now masters in managing their finances and their business to a certain degree because of their virtue of enormous success.

It is observed that when it comes to managing the fund, most entrepreneurs don’t understand the tax and accounting elements that well. In fact, most entrepreneurs don’t enjoy this side of the business, and they rather want to spend their time and energy to find solutions, new product or services, they want to grow their businesses. This, therefore, results in neglecting the financial side of the business which creates government compliant risk, unneeded legal tax, and undermining their business success.

To become a master of finances of your business, you have two options:

Business Loan Terminology You Need to Know | Small Business Trends

July 27, 2020July 26, 2020 ~ knjohn ~ Leave a comment

Business loan terminology can be confusing. Most small business owners would rather grow their companies than talk about loan interest and finance charges. That said, if you approach a lender without knowing loan terminology you could be — well — borrowing trouble.

Fortunately, we’ve created this glossary of loan definitions that a small business borrower must know in order to make informed choices. Knowing these terms will help you understand small business funding options and the obligations that come with them.

Small Business Owners: Don’t Overlook Your HR Strategy | AllBusiness.com

March 13, 2020March 12, 2020 ~ knjohn ~ 1 Comment

When you’re an entrepreneur, you generally need to understand every function of your company: operations, sales, marketing, finances, and human resources. Many business owners, however, only concentrate on departments that are directly linked to sales and increased ROI, and put human resources on the back burner.

However, by not making HR a critical department in your operation, you are sabotaging your company. This is not to say that a startup should immediately hire an HR coordinator, but if you run a small business, you need to be knowledgeable about HR. Implementing the following practices will put your organization in a stronger position for growth and financial success.

Give Your Small Business a ‘Cash Health’ Checkup for the New Year | AllBusiness.com

December 4, 2019December 3, 2019 ~ knjohn ~ Leave a comment

As we wrap up the year and prepare for the next, make sure to give your business a cash health checkup. This is more than looking at a statement to see if there is money in the bank or to check the profit margin. It’s analyzing where you are, deciding where you want to be, and outlining a strategy to get you there.

Is Micromanaging Your Employees Hurting Your Business? | AllBusiness.com

September 6, 2019September 2, 2019 ~ knjohn ~ Leave a comment

Many small business owners are guilty of micromanaging. It’s no secret that delegating tasks is often very hard for small business owners to do. After all, how many of you started your business thinking, “I can do it better than my boss can!” or something similar?

When you’re the best at something, it’s tough to let anyone else take the reins. But micromanaging can hurt you, your employees, and your business.